Diamond Sports Group

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Sports Tech?
Product stageSegments
Expansion
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Sports media platforms
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Diamond Sports Group, LLC, an independently-managed and unconsolidated subsidiary of Sinclair Inc., owns the Bally Sports Regional Sports Networks (RSNs), the nation's leading provider of local sports. Its 18 owned-and-operated RSNs serve as the TV home to nearly half of all MLB, NHL, and NBA teams based in the US. The Bally Sports RSNs produce over 4,000 live local professional telecasts each year.

In March 2023, Diamond Sports Group filed for Chapter 11 bankruptcy protection to restructure and strengthen its balance sheet while continuing to broadcast live sports productions. The company had approximately USD 425 million in cash to fund its business and restructuring. Diamond intended to eliminate over USD 8 billion of outstanding debt through the bankruptcy proceedings.

In January 2024, Diamond entered into a Restructuring Support Agreement (RSA) with its largest creditor groups, providing a framework for a reorganization plan. The RSA included USD 450 million in financing from debt holders and a commitment from Amazon to make a minority investment and provide access to Diamond's services via Prime Video.

As of May 2024, Diamond had renewed carriage agreements with Charter, Cox, DirecTV, and Fubo, while its channels went dark on Comcast due to a failure to reach a renewal deal.


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Disclaimer: This company profile has been generated using data obtained through automated web searches and advanced generative AI technology. While we strive to ensure the accuracy and reliability of our sources, auto-generated information could be outdated or inaccurate and should be verified independently.
HQ location:
999 Waterside Drive Norfolk VA USA
Founded year:
2019
Employees:
501-1,000
IPO status:
Private
Total funding:
USD 1.1 bn
Last Funding:
USD 450.0 mn (Debt Financing; Feb 2024)
Last valuation:
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